China Shipping passes on ship option

Thursday, May 03, 2012

China Shipping Container Line said it has let options to acquire four additional containerships lapse. The decision follows last week's announcement that CSCL lost 1.44 billion renminbi ($229 million) in the first quarter of 2012, compared to a loss of 140 million RMB in the same 2011 period. The company had revenue of 6.45 billion RMB in the first quarter of 2012, compared to 6.52 billion RMB in the first quarter of 2011....

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